When you purchase a home,  you also purchase title insurance, but what is it?

Title insurance is simply this, protection against loss arising from problems connected to the title to your property.  When you buy a home, you receive a title to the property, meaning you are not the full legal owner of that property.  You can purchase it for a one-time premium, paid in most cases at closing.

Title insurance usually covers four types of “hidden” risks: errors, liens, ownership claims, and invalid deeds. If a claim is made against your property, the title insurance company will negotiate with the other party to settle the claim, defend you in court if necessary, pay any incurred legal costs, and satisfy any covered claims. Having title insurance can save you time, money, and even your home.